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Pound Sterling Price News and Forecast: GBP/USD consolidates around 1.2700 after hitting 7-day low

|ByFXStreet Team

GBP/USD Price Analysis: Consolidates around 1.2700 after hitting 7-day low

The British Pound extended its losses for the second consecutive trading session against the US Dollar, following last Friday’s stellar jobs report from the US, which triggered the likelihood of a less dovish Federal Reserve. That and uncertainty on the upcoming Fed’s meeting would keep Cable pressured. Therefore, the GBP/USD trades at 1.2713, down 0.01%. Read More...

Pound Sterling declines to 1.2700 as Fed rate-cut bets shrink

The Pound Sterling (GBP) seems vulnerable against the US Dollar (USD), slightly below the round-level support of 1.2700 in Monday’s New York session. The GBP/USD pair weakens as the market sentiment turns downbeat after investors decreased their bets that leaned towards the Federal Reserve (Fed) to start reducing interest rates from the September meeting. Read More...

GBP/USD Price Analysis: The potential support level is located above 1.2700

The GBP/USD pair trades in negative territory for the second consecutive day near 1.2715 during the early European session on Monday. The stronger US Dollar (USD) broadly drags the major pair lower. Investors await the UK Employment data on Tuesday for fresh impetus, including Claimant Count Change, Employment Change, and Average Earnings data. Any evidence of more layoffs in the UK economy might trigger the expectations of early rate cuts from the Bank of England (BoE) and might weigh on the Pound Sterling (GBP). Read More...
 

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